People have been moving to the southern U.S. for decades due to the better weather, lower cost of living and lower taxes. Trump’s second presidency can serve as another catalyst for southern cities. Trump’s policies favor deregulation, tax breaks and traditional energy sources (like gas). These southern cities can become more popular during Trump’s second term.
Wondering which other U.S. cities may see a boom? Here are three more in addition to the ones mentioned below.
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Charleston, South Carolina
Charleston has plenty of southern charm and is currently benefiting from a population boom. Housing prices in Florida have soared since the pandemic and that has made Charleston’s prices more attractive compared to other options.
The city is among the fastest-growing places in America. Its business-friendly atmosphere attracts more investments and the city has plenty of colleges that bring in talented workers. Trump’s second term could continue the trend.
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San Antonio
President-elect Trump’s previous policies and current proposals suggest that the oil industry will benefit greatly from his second term. This development is poised to make San Antonio a more attractive destination. Many oil companies are located in San Antonio and the city even has an oil refinery.
Deregulation in the industry will help oil companies hire more workers. The city is already a fast grower and its population growth even outpaced all U.S. cities in 2023. Trump’s second term may lead to higher growth rates for the oil city.
Tulsa, Oklahoma
Tulsa is referred to as “The Oil Capital of the World,” so it will benefit for the same reasons as San Antonio. The city has been growing for a few years due to its affordability and welcoming programs. For instance, the city’s “Tusla Remote” program gave remote workers $10,000 in grants and additional benefits if they relocated to Tusla for at least one year.
The program has produced a tremendous return on investment (ROI) for the city, as talented workers are now flocking to the city. Tusla also enjoys higher tax revenue due to the influx of remote talent. The city also has a generous median housing price of $237,500, according to Realtor.com.
Dallas
Dallas is another major hub for oil as are many Texas cities. However, that’s not the only reason the city is poised to benefit from Trump’s second term. The president-elect is in favor of deregulation, which is favorable for the finance industry.
Dallas has become the second-largest financial city in the U.S., according to the World Economic Magazine. The city combines an affordable cost of living with a large presence of Fortune 500 companies. The lack of a state income tax has also attracted many talented workers to Dallas and other Texas cities.
Miami
Miami has established itself as a business and finance hub that also attracts plenty of tourists. Deregulation paves the way for increased business investments in the U.S., which bodes well for Miami.
Even though the price tag has gotten higher over the years, Miami remains a top destination that was the 10th fastest-growing city in 2023. The city has also attracted many billionaires who enjoy not having to pay a state income tax.
Editor’s note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.
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This article originally appeared on GOBankingRates.com: Charleston and 4 Southern Cities That Could See a Boom Under Trump’s Policies
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